EconomyIMF forecast for Lithuania: the economy will recover significantly, but it is important to continue boosting competitiveness2023-09-08, 13:47According to the assessment of the International Monetary Fund (IMF) published today, Lithuania’s economy will slightly contract this year due to domestic and foreign demand dampened by inflation. However, the country’s economy will bounce back to growth next year due to a pick-up in consumption and higher public investment. Although the competitiveness of Lithuania’s external sector has strengthened over the past decade, the IMF encourages to pay further attention to measures ensuring long-term growth of potential output. Gintarė Skaistė: "The temporary solidarity contribution increases the security of our country, its citizens and investors"2023-09-07, 10:34Banks, branches of foreign banks and credit institutions operating in Lithuania until 31 August had to transfer the first advance quarterly installment of the temporary solidarity contribution for the period from the entry into force of the law in May until the end of the second quarter to the State Tax Inspectorate (STI). According to preliminary data, over EUR 56 million of this contribution were collected in the State budget by the set date, which will be used to finance military mobility and military transport infrastructure projects. A total of 18 credit institutions paid the advance payment. Exploring Rail Baltica: a perspective of the global project’s environmental impact2023-09-06, 12:18In an era marked by an urgent need to address environmental concerns, Rail Baltica aims to offer eco-friendly and sustainable transportation in the region. The transport sector, while crucial for economic development, has long been one of the largest contributors to greenhouse gas emissions in Europe. However, the tide is turning, and rail transport is emerging as a healthier and more eco-friendly alternative. It aligns perfectly with the European Green Deal and simply makes common sense. As of 1 September, the legal form of Lithuanian Airports is changing – the state-owned company has become a joint stock company. The planned transformation follows one of the main recommendations of the Organization for Economic Co-operation and Development (OECD) – to apply the principles of good governance in the public sector. The State will continue to hold all shares in the company. A. Armonaitė to visit Thermo Fisher Scientific, one of the largest US investors in Lithuania2023-08-31, 14:01On Thursday, the Minister of the Economy and Innovation Aušrinė Armonaitė will visit Thermo Fisher Scientific, one of the largest US investors in Lithuania. The Minister will meet with the company's management, discuss the company's performance and future plans. A. Armonaitė: we aim to attract foreign Lithuanians to return to their home country2023-08-30, 13:59The BringTogether Lithuania programme, supported by the Ministry of the Economy and Innovation for several years now, has come to an end, with seventeen Lithuanian diaspora youngsters having engaged in internships in Lithuania for six weeks. Sharing their impressions, the young people said that the programme helped them to get acquainted with the country's business environment, which encouraged all participants to consider building their future in Lithuania. EUR 1 billion for the Lithuanian economy: EUR 5 million to find new markets and expand existing ones2023-08-29, 12:01The Ministry of the Economy and Innovation is launching a EUR 5 million call for micro, small and medium-sized enterprises (SMEs) in the Central and Western Lithuania region. This investment will promote the internationalisation of these enterprises and the search for new export markets and the expansion of existing markets. On Friday, 18 August, the Minister of the Economy and Innovation Aušrinė Armonaitė will open a new railway branch in Plungė, as well as meet with entrepreneurs from the Plungė region and present financing opportunities. Electrification of Vilnius-Klaipėda, the most heavily used railway line in Lithuania, is underway2023-08-25, 14:58The electrification of the Vilnius-Klaipėda railway line, including the Vilnius hub—one of the largest railway infrastructure modernisation projects in Lithuania—has reached its halfway point. The works implemented, including the completion of the electrification sections and the construction of the traction substation, an important piece of the project, have been inspected and evaluated by the Minister of Transport and Communications Marius Skuodis. €1 billion – for the Lithuanian economy: €30.6 million granted for the development of the Akmenė, Jonava and Mažeikiai industrial zones2023-08-22, 11:47The Ministry of the Economy and Innovation has announced a €30.6 million call for tenders to improve conditions for Lithuanian and foreign investors in industrial areas and free economic zones (FEZs) in the municipalities of Akmenė, Jonava and Mažeikiai. |
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